Dev Ittycheria Sells 40,000 Shares of MongoDB (NASDAQ:MDB) Stock

MongoDB, Inc. (NASDAQ:MDB) Director Dev Ittycheria sold 40,000 shares of MongoDB stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $383.16, for a total value of $15,326,400.00. Following the sale, the director owned 161,762 shares in the company, valued at $61,980,727.92. This represents a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

MongoDB Trading Up 0.5%

MDB stock traded up $1.82 during midday trading on Monday, hitting $352.56. 1,746,741 shares of the company’s stock were exchanged, compared to its average volume of 2,048,704. MongoDB, Inc. has a 12-month low of $196.00 and a 12-month high of $444.72. The firm has a 50 day moving average price of $285.37 and a 200-day moving average price of $334.31. The stock has a market capitalization of $28.34 billion, a price-to-earnings ratio of -952.86, a price-to-earnings-growth ratio of 1,505.91 and a beta of 1.57.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.13. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The company had revenue of $687.62 million for the quarter, compared to the consensus estimate of $664.53 million. During the same period in the previous year, the business earned $1.00 EPS. MongoDB’s revenue for the quarter was up 25.2% compared to the same quarter last year. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. On average, sell-side analysts forecast that MongoDB, Inc. will post 0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new position in shares of MongoDB in the 4th quarter worth approximately $28,000. Cornerstone Planning Group LLC boosted its position in MongoDB by 1,220.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock valued at $27,000 after purchasing an additional 61 shares during the period. International Assets Investment Management LLC acquired a new position in MongoDB during the 4th quarter valued at approximately $33,000. Root Financial Partners LLC boosted its position in MongoDB by 58.2% during the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after purchasing an additional 32 shares during the period. Finally, Global Trust Asset Management LLC acquired a new position in MongoDB during the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Ratings Changes

MDB has been the topic of several analyst reports. Zacks Research upgraded MongoDB from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. DA Davidson restated a “buy” rating and set a $375.00 price objective on shares of MongoDB in a report on Friday, May 29th. Guggenheim restated a “buy” rating and set a $475.00 price objective on shares of MongoDB in a report on Friday, May 29th. Needham & Company LLC reiterated an “overweight” rating on shares of MongoDB in a research report on Friday, May 29th. Finally, Tigress Financial lifted their target price on MongoDB from $430.00 to $515.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Twenty-eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $396.39.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.